Home / Knowledge / News / Textiles / Uttarakhand to launch new textile parks
Uttarakhand to launch new textile parks
30
May '16
The Uttarakhand government is setting up three textile parks in the Kumaon region. Incentives include a rebate on the land price, besides capital subsidies, reports Shishir Prashant

The Uttarakhand government has launched a mega textile policy under which it will set up a series of textile parks in the Kumaon region by offering a slew of incentives.

Three textile parks in Kashipur, Jaspur and Sitarganj are being set up where a host of incentives will be available to attract new investments under the mega textile policy.

For the allotment of industrial plots the government has made the State Infrastructure and Industrial Development Corporation of Uttarakhand (SIDCUL) the nodal agency under the single window system. The land will be available under the prevailing land price at various places in the three townships. 

Under the policy guidelines, the new project having investment above Rs 75 crore will be christened as a mega textile park project. “The new project and the existing textile industries under expansion within investment above Rs 75 crore will be covered,” said a top government official. The company setting up a new unit will be given a 50 per cent rebate on the land price, the official said.

Under the policy, the allottee has to pay 20 per cent of the land premium at the time of allotment and balance payment is to be deposited within seven years in equal installment on the prevailing rate of interest. The scheme will remain in force till March 31, 2021 (with the commencement of production).

Besides, the government is also offering state capital subsidy. For MSMEs, the capital subsidy will be 15 per cent to a maximum limit of Rs 50 lakh and for heavy industry 15 per cent to a maximum limit of Rs 30 lakh.

The government is also offering an interest subsidy of 7 per cent. Cent percent VAT concession will be given on purchase of raw material and on sale of finish goods for seven years from the start of the production. A rebate of Rs 1 per unit is also available on power bills. There will be 100 per cent stamp duty rebate on the purchase of land. (WE)

 

 

Fibre2Fashion News Desk – India


Must ReadView All

US & EU retailers release industry approach to GDPR

Apparel/Garments | On 24th May 2018

US & EU retailers release industry approach to GDPR

The Washington, D.C.-based National Retail Federation and...

Global cotton consumption to reach record in 2018-19: USDA

Textiles | On 24th May 2018

Global cotton consumption to reach record in 2018-19: USDA

Reflecting continued growth in the global economy, world cotton mill...

Courtesy: Nanollose

Textiles | On 24th May 2018

Nanollose develops fabric from coconuts

Australian technology company Nanollose has developed a sustainable...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search